7th June 2021

The El Salvador Housing Market Is Very Popular Amongst Bitcoin Millionaires Right Now

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Welcome to another edition of The Under60 Daily - a brief rundown of the top happenings in the business world, compiled by hand to exclude the clutter and ensure you get up to speed in under a minute.

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[Crypto] El Salvador, a country in South America, is looking to introduce legislation that will make it the world’s first sovereign nation to adopt bitcoin as legal tender, alongside the U.S. dollar. El Salvador is a large cash economy, where roughly 70% of people do not have bank accounts or credit cards.

Over60: CNBC

[M&A] Blackstone Group Inc. has struck a roughly $6.7 billion deal to buy QTS Realty Trust Inc. and take the data-center operator private. Overland Park, Kansas, QTS is a real estate investment trust with more than 7 million square feet of data-center space in 28 locations across North America and Europe. 

Over60: WSJ

[Private Equity] Reckitt Benckiser (R.B.) has agreed to sell its Chinese baby formula business to private equity firm Primavera in a $2.2 billion deal. R.B. had entered the baby formula milk industry in 2017 by taking over Mead Johnson for £13 billion but had to take a £5 billion impairment. 

Over60: Business Standard 

[Private Equity] Blackstone, Carlyle and Hellman & Friedman, along with a consortium of private equity firms, have agreed to buy a majority stake in Medline, a U.S.-based medical supply company, for $34 billion. This would make it the largest buyout transaction of the year and since the 2008 financial crisis. 

Over60: Reuters

[Markets] Dividend-paying stocks face renewed investor interest as most companies revert to paying dividends after temporarily suspending payments in 2020 due to the pandemic. Dividend funds domiciled in the U.S. have not had back-to-back weeks of outflows since January. 

Over60: FT

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